Listening to experts can be dangerous

Ipv6Ready said:
My First PC was $5,500 in the mid 80's -> paid for my parents
My First mobile Brick/phone was $7,900 in 1989
My first car was $5,000 in 1992 absolute junk of a secondhand nissan bluebird

Overall are people better off or worse off than 1983.
What was the home ownership percentage in 1966, what is it now?

We had a unprecedented boom the last of which was likely in Gold era, I am sure some assets in the 1800 in Gold boom town and cheap, average and expensive suburbs of that era also had a boom.

I agree with you that with gold standards prices would have been different, but it is a big call to say wages or houses prices in gold would not have changed just as much.
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In an economy without a government, prices of new products gradually drop - people become better when repeating jobs / more experienced in the production and competition drives price lower.
The house market is one of the biggest new money receivers, and what of the biggest expenditures in ones life, so what happened to house prices since mid 80's - what happened to the wages?
And another comparison: what was the working pressure in the real economy (not States's busykeeping) then versus now?
Progress, was due to a population part working more / doing the job better, DESPITE governments theft.
A gold standard, makes the latter harder, and is irrelevant to the former.
Though, worth to mention is that the key element the gold production cost is.
For ex, in the nineteenth century, the new world discoveries (both gold and silver) troubled the government thieves because others / citizens could do the same that governments wanted as a privilege for themselves: buy other ppls products / services with little effort in return. But events as discovering a new world are rare so today only technological progress can influence this, alike the fracking on the oil / natural gas market, and it's again just temporary.

A real boom has a general welfare scope, and is caused by ppl becoming better in what they do. All other booms are mere shifts from losers to winners, and if orchestrated by governments, be sure that the winning side consists of a bunch lazy butts, and the losing side again having to work harder for the same.
 
Hi P,

Unless you are saying gold standard is controlled society, the price of anything is what someone will pay for it.

So if Australian gold boom was a diamond boom, and Australia didn't have much gold, the price of few decent housing in the closest town wouldn't go up, because there was not much gold to go around?

The gold standard will have the same limitations.
Just like there was many who bought silver and gold to increase wealth there was as many people who converted AUD to USD when the currency was at parity

No monetary system is perfect. What made everyone leave the gold system and if we went back why wouldn't it happen again.
 
Ipv6Ready said:
Hi P,

Unless you are saying gold standard is controlled society, the price of anything is what someone will pay for it.

So if Australian gold boom was a diamond boom, and Australia didn't have much gold, the price of few decent housing in the closest town wouldn't go up, because there was not much gold to go around?

The gold standard will have the same limitations.
Just like there was many who bought silver and gold to increase wealth there was as many people who converted AUD to USD when the currency was at parity

No monetary system is perfect. What made everyone leave the gold system and if we went back why wouldn't it happen again.
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I think you have it all backwards. The US as the reserve currency left the gold standard in 1971 because it was broke. It had printed far too many $ to fund its wars (Vietnam) and social plans. The French wanted the gold and were shipping $ back to the US. So the move off the Gold Standard was all about money printing and the devaluation of the $. When this corrupted scheme of central banks collapses lets see what will be used as money. I think Gold did really well in Zimbabwe.

Its not about how much gold you mine or paper you print, its about wealth. So now you have a choice: save your assets (fruits of your labor) in debt instruments (like bonds or cash) or in speculative products (Stocks) or in tangible goods like land, gold and silver. Your choice - choose wisely as you only get 1 chance.
 
So if listening to the experts is dangerous, then who should we listen to or follow when investing in Silver or Gold ?
 
Rickard's "Case for Gold" and "the Big Drop" are good.

Lots of free information and signposts on the web too, especially some of the YouTube clips.

Zero Hedge too:

The Rothchild's investment house has increased its allocation to gold by 8% and aggressively sold quoted equities and sterling to navigate choppy "uncharted waters" post-Brexit. Sale of shares have been used to buy gold and other non-disclosed precious metals, which, at the end of June accounted for 8 per cent of the 2.8 billion portfolio according to the trust's half-year results, released on Tuesday.

"The six months under review have seen central bankers continuing what is surely the greatest experiment in monetary policy in the history of the world.


We are therefore in uncharted waters and it is impossible to predict the unintended consequences of very low interest rates, with some 30 per cent of global government debt at negative yields, combined with quantitative easing on a massive scale.

In times like these, preservation of capital in real terms continues to be as important an objective as any in the management of your company's assets."

Rothschild said to date quantitative easing has successfully driven stock markets higher, but he rightfully fears this will not go on forever. He adds that a number of headwinds could also derail markets - including the very uncertain geopolitical risk.

Geopolitical Risks

"Many of the risks which I underlined in my 2015 statement remain; indeed the geopolitical situation has deteriorated with the UK having voted to leave the European Union; the presidential election in the US in November is likely to be unusually fraught; while the situation in China remains opaque and the slowing down of economic growth will surely lead to problems," said Rothschild.

"Conflict in the Middle East continues and is unlikely to be resolved for many years. We have already felt the consequences of this in France, Germany and the US in terrorist attacks."
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@JulieW,

Cool, so in that case I'll buy the book and have some more understanding in gold investing :-)
 
masmas said:
@JulieW,

Cool, so in that case I'll buy the book and have some more understanding in gold investing :-)
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If you post up a receipt to a charity for what you think it's worth, I'll mail you "The Big Drop".
 
Jules, I made a donation to charity...can I please get a book? :P

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